MEXICO – Proteak, Mexico’s largest forestry company, reported its results for the second quarter of 2024 (2Q-2024).

During 2Q-2024, Tecnotabla (MDF) sales volume was 43,962 m3 , down 22.6%, compared to the same period of 2023.   MDF sales revenue reached MXN 284 million, 20.5% lower than in 2Q-2023, mainly due to lower volume, change in the mix and lower melamine prices.

In 2Q24, imports continue to show a significant increase in the Mexican MDF market, those from Brazil and Chile with a slight decrease compared to the same period of 2023, however, those from China reflect a 12% increase compared to the previous year.

The market share of natural MDF stood at 20% and the value-added share fell to 25%, as imports of melamine and natural MDF continued to rise, which means a greater supply in the Mexican market and a decrease in the share of domestic producers.

Proteak’s decrease in sales had a considerable impact on the companies bottom line.